Kinsale Capital Group (NYSE:KNSL) Releases Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Kinsale Capital Group (NYSE:KNSL) issued its earnings results on Thursday. The financial services provider reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.39, Zacks reports. Kinsale Capital Group had a net margin of 26.80% and a return on equity of 28.87%.

Kinsale Capital Group Stock Down 8.2 %

KNSL traded down $39.81 during trading on Friday, reaching $447.31. 177,747 shares of the stock were exchanged, compared to its average volume of 199,835. The stock has a market cap of $10.42 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15. Kinsale Capital Group has a twelve month low of $355.12 and a twelve month high of $548.47. The stock’s 50 day moving average price is $461.05 and its two-hundred day moving average price is $465.71. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.09 and a current ratio of 0.09.

Kinsale Capital Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.15%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, February 27th. Kinsale Capital Group’s payout ratio is presently 3.42%.

Analyst Ratings Changes

Several research analysts recently weighed in on KNSL shares. Royal Bank of Canada reduced their price objective on shares of Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. reduced their price objective on shares of Kinsale Capital Group from $415.00 to $412.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley reduced their price objective on shares of Kinsale Capital Group from $535.00 to $520.00 and set an “overweight” rating on the stock in a research note on Friday. JMP Securities reissued a “market perform” rating on shares of Kinsale Capital Group in a research note on Friday. Finally, Truist Financial reduced their price objective on shares of Kinsale Capital Group from $500.00 to $480.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $460.78.

Insider Buying and Selling

In related news, Director Frederick L. Jr. Russell sold 4,440 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $499.31, for a total value of $2,216,936.40. Following the transaction, the director now directly owns 447 shares in the company, valued at approximately $223,191.57. This represents a 90.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Diane D. Schnupp sold 500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now owns 6,994 shares in the company, valued at $3,566,940. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,235 shares of company stock worth $3,618,954. Insiders own 5.60% of the company’s stock.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.